Interim Report January June 2016 Robit Plc Growth Company 2 - - PowerPoint PPT Presentation

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Interim Report January June 2016 Robit Plc Growth Company 2 - - PowerPoint PPT Presentation

Dec 22, 2023 105 likes •399 views

Interim Report January June 2016 Robit Plc Growth Company 2 Highlights 1-6/2016 Challenging market featured the period Q2/2016 looked better H1/2016 net sales dropped 4,0 % from H1/2015 Q2/2016 increased +3,6 % from

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SLIDE 1

Robit Plc – Growth Company

Interim Report

January – June 2016

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SLIDE 2

Robit Plc – Growth Company

Highlights 1-6/2016

  • Challenging market featured the period – Q2/2016 looked better
  • H1/2016 net sales dropped –4,0 % from H1/2015
  • Q2/2016 increased +3,6 % from Q2/2015
  • Q2/2016 increased +23,4 % from Q1/2016
  • Acquisitions played an essential role during H1/2016
  • Drilling Tools Australia Pty Ltd was acquired
  • n 30 June 2016
  • Bulroc (UK) Ltd was acquired immediately

after period on 5 July 2016

  • Down the Hole business segment

was strengthened significantly

2

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SLIDE 3

Robit Plc – Growth Company

Our Vision

Robit Plc – Growth Company

Top Hammer Business Unit Down-the-Hole Business Unit Digital Services Business Unit

Organic growth Structural growth Cost competitiveness Turnover/capita >500k€

Strategic trategic targets targets Ro Robit bit structure tructure (SBU BUs)

1 2 3

10 100 0 % % Con Consuma sumables bles & & Mark Market et S Sha hare re Doub Doubled led

piling site investigation bench drilling production drilling horizontal drilling drifting & tunneling forepoling anchoring well drilling micropiling & underpinning

Applications Applications

3

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SLIDE 4

Robit Plc – Growth Company

Global Platform Ready for Growth

  • Four manufacturing plants with own focus
  • Improved regional service thanks to regional Hubs – closer to customers

Finland Australia South Korea UK Top Hammer Down the Hole

4

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SLIDE 5

Robit Plc – Growth Company

Global Platform Ready for Growth

  • Robit advanced from international company to global
  • 12 own offices and 160 dealers service global customers with new wider
  • ffering
  • New offering having Top Hammer, Down the Hole and future technology

raises Robit to a top supplier in drilling consumables

  • Strategic targets were reached

5

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SLIDE 6

Robit Plc – Growth Company

Global Platform Ready for Growth

  • Three SBUs (Strategic Business Units) enable new growth per segment
  • Each SBU with own growth opportunities will be attacked

Top Hammer SBU Down the Hole SBU Digital Services SBU

6

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SLIDE 7

Robit Plc – Growth Company

Global Platform Ready for Growth

  • Robit has strengthened the management with new VPs responsible for

SBUs

  • A new CEO was nominated on 2 January 2016
  • A new CFO starts on 1 September 2016
  • The total amount of employees is 214 at the end of period (incl. DTA)

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SLIDE 8

Robit Plc – Growth Company

Market Segments – Well Balanced

Robit Plc – Growth Company

Thermal & Water Wells Construction Tunneling Mining

8

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SLIDE 9

Robit Plc – Growth Company

Top Hammer Essentials

Robit Plc – Growth Company

Full package

  • Korea plant has increased the volume in rod and shank

production

  • Total packages offered to customers
  • DTA acquisition will open the mining market to TH

products in Australia – annual supply agreements

  • Button bit manufacturing will be started in Australia –

Perth

9

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SLIDE 10

Robit Plc – Growth Company Robit Plc – Growth Company

Full package

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Down the Hole Essentials

  • Drilling Tools Australia Pty Ltd (DTA) and Bulroc

(UK) Ltd acquisitions closed

  • Robit has the widest range of DTH hammers
  • Total, bigger packages offered to customers –

total solutions

  • Brand management will be essential
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SLIDE 11

Robit Plc – Growth Company

Digital Services Essentials

Robit Plc – Growth Company

Cloud service

Laser scanners

11

Cockpit tablet Cloud Service

  • Long-term tests delivered

concept confidence

  • Active partnership negotiations

at various business levels

  • Great interest among the

customers and in the industry

  • Key technologies: IoT, Big

Data, digitalization, cloud services

  • Robit wants to show a

technology leader brand and give new value-add to customers

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SLIDE 12

Robit Plc – Growth Company

Chicago, USA, 2013 (Sales company) Moscow, Russia, 2007 (Sales company) Lempäälä, Finland, 1985 (HQ, sales, manufacturing) Johannesburg, South Africa, 2014 (Sales company) Seoul, South Korea, 2011 (Sales) Donghae, South Korea, 2011 (Manufacturing) Hangzhou, China, 2012 (Sales office) Lima, Peru, 2015 (Sales company) Bangkok, Thailand, 2016 (Representative office) Robit presence Chesterfield, UK, 2016 (Sales, manufacturing) Perth, Australia, 2016 (Sales, manufacturing) Hong Kong, 2016 (Sales office) Windhoek, Namibia, 2016 (Sales office)

Global Platform – 12 Own Units, 160 Dealers

H1/2015 H1/2016

Turn over 12

3,7

H1/2015

2,9

H1/2016

Americas

12,1

H1/2015

12,2

H1/2016

EMEA

1,4

H1/2015

1,8

H1/2016

Russia + CIS

4,7

H1/2015

4,1

H1/2016

Asia + AUS 58 20 14 8

Sales split by geography H1/2016, %

Europe,Middle East and Africa Asia and Australia North and South America Russia and CIS

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SLIDE 13

Robit Plc – Growth Company

Robit Plc H1/2016 in Brief

Robit Plc – Growth Company

Net sales EBITA Equity ratio Return on capital employed (ROCE) Cash flow before changes in working capital Earnings per share

13

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SLIDE 14

Robit Plc – Growth Company

Net Sales Development, EURm

Growth % last 10 years average 23 % per annum

14

30,7 34,0 38,3 45,6 21,9 21,0 2012 2013 2014 2015 H1/2015 H1/2016

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SLIDE 15

Robit Plc – Growth Company

Net Sales by Region, EURm

15

17,6 20,9 22,0 25,0 12,1 12,2 4,2 3,5 5,8 8,5 3,7 2,9 6,3 6,8 7,2 9,0 4,7 4,1 2,6 2,7 3,2 3,1 1,4 1,8 2012 2013 2014 2015 H1/2015 H1/2016 Europe, Middle East and Africa North and South America Asia and Australia Russia and CIS

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SLIDE 16

Robit Plc – Growth Company

Profitability Development

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1,8 3,2 3,8 3,4 1,7 1,5 6,0 % 9,4% 9,8% 7,4% 7,8% 7,2% 0% 2% 4% 6% 8% 10% 12% 0,0 0,5 1,0 1,5 2,0 2,5 3,0 3,5 4,0 2012 2013 2014 2015 H1/2015 H1/2016

EBIT margin, % EBIT (EURm)

EBIT margin, % EBIT 12 months, EURm EBIT H1, EURm

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SLIDE 17

Robit Plc – Growth Company

Capital Expenditure

0,9 0,8 1,7 7,7 4,3 0,7 2,9 % 2,5 % 4,5 % 17,0 % 19,8 % 3,1 % 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% 19% 20% 21% 0,0 0,5 1,0 1,5 2,0 2,5 3,0 3,5 4,0 4,5 5,0 5,5 6,0 6,5 7,0 7,5 8,0 8,5 2012 2013 2014 2015 H1/2015 H1/2016 Capital expenditure as % of sales

*

* H1/2016 total capital expenditure including DTA acquisition was 31,9 EURm. Capital expenditure 12 months, EURm (DTA was excluded) Capital expenditure H1, EUR (DTA was excluded) (DTA was excluded)

17

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SLIDE 18

Robit Plc – Growth Company

Capital Employed, EURm

17,8 18,1 21,4 59,2 57,5 58,8 2012 2013 2014 2015 H1/2015 H1/2016 DTA acquisition effect was 27,0 EURm loan.

18

85,8

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SLIDE 19

Robit Plc – Growth Company

Key Financials

19

Equity ratio, % Net interest-bearing debt

37% 44% 47% 71% 68% 44%

2012 2013 2014 2015 H1/2015 H1/2016

6,1 5,6 6,9

  • 22,1
  • 23,8

11,3 72% 56% 53%

  • 46%
  • 50%

23%

  • 60%
  • 40%
  • 20%

0% 20% 40% 60% 80%

  • 30,0
  • 25,0
  • 20,0
  • 15,0
  • 10,0
  • 5,0

0,0 5,0 10,0 15,0

2012 2013 2014 2015 H1/2015H1/2016 Net gearing, % Net debt (EURm)

Net gearing, % Net debt 12 months, EURm Net debt H1, EURm

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SLIDE 20

Robit Plc – Growth Company

Cash Flow, EURm

(Net cash from operating activities)

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2,8 1,4 0,7 2,9 2,3 0,1 2012 2013 2014 2015 H1/2015 H1/2016

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SLIDE 21

Robit Plc – Growth Company

Key Financials

21

Number of employees at the end of period Age distribution at the end of period

42 50 63 79 75 88 45 44 46 55 49 56 87 94 109 134 124 144 Sales & Administration Production

*

* H1/2016 total number of employees was 214 when DTA’s 70 employees were included. 23 64 35 15 7 20-29 30-39 40-49 50-59

  • ver 60

Age In age distribution DTA’s 70 employees were excluded.

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SLIDE 22

Robit Plc – Growth Company

Share Information

  • On 30 June 2016 the company had 905 shareholders
  • The company holds 99 567 own shares; 0,6 % of the shares
  • Market capitalization on 30 June 2016 was EUR 92,920,815.00 (share price EUR 5.85)
  • The Best Investor Website 2016 in First North Category

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5,85 €

(30.6.2016)

5,70 €

(21.5.2015)

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SLIDE 23

Robit Plc – Growth Company

Future Outlook

1. “Robit 2.0” – executed – strong platform for growth

  • From international to global
  • Significantly wider offering
  • DTH SBU especially strengthened
  • 4 manufacturing plants, 12 offices, 160 dealers

2. Tight focus on drilling consumables

  • Widest range of offering
  • Running now approx. 75 EURm annual sales volume
  • Size enables further investments and growth
  • Strong cash maintained

3. Strengthened organization with ambitious young personnel

  • Average age 39 years (w/o acquisitions)
  • 49 % outside Finland (w/o acquisitions)
  • 67 % outside Finland (incl. DTA)

4. Competent distributor network got DTH products in their sales package

  • Dealers grow and get stronger
  • Robit grows and gets bigger

5. IFRS project started

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SLIDE 24

Robit Plc – Growth Company

Profit and Loss Account

EUR (1 000) 30.6.2016 30.6.2015 TURNOVER 21 031 21 913 Variation in stocks of finished goods and work in progress 1 353 1 017 Production for own use 98 186 Other operating income 263 43 Raw materials and services total

  • 12 823
  • 13 341

Staff expenses in total

  • 3 755
  • 3 655

Depreciation and amortisation

  • 1 009
  • 646

Other operating charges

  • 3 652
  • 3 809

OPERATING PROFIT (LOSS) 1 505 1 706 Financial income and expenses total

  • 156

48 PROFIT (LOSS) BEFORE EXTRAORDINARY ITEMS 1 349 1 754 PROFIT (LOSS) BEFORE APPROPRIATIONS AND TAXES 1 349 1 754 Taxes during financial period

  • 245
  • 361

Calculated change of taxes 58 10 PROFIT (LOSS) FOR THE FINANCIAL PERIOD 1 162 1 403

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SLIDE 25

Robit Plc – Growth Company

Consolidated Balance Sheet

EUR (1 000) 30.6.2016 30.6.2015 ASSETS Non-current assets Intangible assets total 24 811 3 581 Tangible assets total 16 795 5 805 Investments total 260 268 Non-current assets total 41 866 9 654 Current assets Inventories total 27 295 14 570 Long-term receivables total 994 743 Short-term receivables total 15 152 10 662 Funding papers total 8 8 Cash in hand and at banks 26 043 34 111 Current assets total 69 492 60 094 ASSETS TOTAL 111 358 69748 EUR (1 000) 30.6.2016 30.6.2015 EQUITY AND LIABILITIES Capital and reserves total 48 472 47 168 Minority share 111 Mandatory reserves Mandatory reserves total 474 441 Long-term creditors Long-term creditors total 34 145 7 228 Short-term creditors Short-term creditors total 28 155 14 911 Creditors total 62 300 22 139 LIABILITIES TOTAL 111 358 69 748 25

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SLIDE 26

Robit Plc – Growth Company

Statement of Cash Flows

EUR (1 000) 30.6.2016 30.6.2015 Operating cash surplus 2 515 2 353 Financial income and expenses (net)

  • 156

49 Income taxes paid

  • 245
  • 361

Changes in working capital

  • 1 992

219 CASH FLOWS FROM OPERATING ACTIVITIES 122 2 260 Investments in tangible and intangible items

  • 656
  • 4 343

Changes in long-term receivables

  • 296

26 CASH FLOWS FROM INVESTMENTS

  • 952
  • 4 317

OPERATING CASH FLOW

  • 830
  • 2 057

Acquisitions

  • 32 053

Financing activities 25 573 34 609 CASH FLOW TOTAL

  • 7 310

32 552

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SLIDE 27

Robit Plc – Growth Company